Navient completes sale of Xtend Healthcare (healthcare services) to CorroHealth for $369M

NAVIENT CORP

Sale price $369M ($365M base + ~$4M working capital adjustments); closed Sept 19, 2024.
Estimated pre-tax gain of $216M ($166M net of tax) recorded in equity.
Pro forma shows removal of Healthcare Services revenues: $121M (FY2023) and $60M (H1 2024).
Net cash proceeds ~$362M after ~$7M transaction costs.

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